Coinvest Capital has joined Polish VC fund Simpact Ventures and other co-investors in a new funding round by contributing €1.15 million of venture capital to Ligence, a #DeepTech and #MedTech portfolio company. Following this investment, the Fund's total shareholding in the company's equity grew to 19.67% and the Fund remains the largest investor. This round represents a second co-investment, this time made on a pari-passu basis (at equal terms with other co-investors).
Cardiac diagnostics start-up Ligence has announced the successful completion of an early-stage seed investment round with Simpact Ventures, a Polish venture capital investment fund focused on social impact technologies, as lead investor. Partners such as Coinvest Capital, European Innovation Council (EIC) Fund, Estonian venture capital firm Lemonade Stand, business angels syndicate 9NGLS and Rita Sakus participated in the investment round.
Ligence develops software for cardiac echocardiography that uses artificial intelligence to automate image analysis, assisting cardiologists in making precise clinical decisions.
"The investors' confidence once again shows that the company's strategic direction is the right one: the world's biggest killer - cardiovascular disease - and one of the key tests to diagnose it, cardiac ultrasound, deserve more attention," says Ligence CEO Arnas Karužas. "With an aging population, a growing number of comorbidities, and a number of risk factors that we are still fighting, accurate and rapid diagnosis of heart disease is more important than ever."
"Impact investing is an investment strategy that seeks to generate not only a financial return but also a measurable benefit for society or the environment," explains Wojciech Majewski, a partner at Simpact Ventures. "Ligence aims to improve the availability and accuracy of heart disease diagnostics, reducing clinical workload and allowing doctors to spend more time with patients."
“For us, one of the most exciting aspects of investing is supporting not only the business potential but also the purpose and mission of the team. Ligence has already won the 'Startup Fair. Pulse 2024' award at the largest startup event in the Baltics, demonstrating that the investment community recognizes both the team’s potential and the positive impact of their product on society,” says Viktorija Trimbel, Director of Coinvest Capital.
Justinas Pašys, Founder and CEO at 9NGLS, says: “Our syndicate of 53 angels has decided to back Ligence after engaging with the team since 2020 and witnessing their ability to develop a world-class product. With strong traction, strategic partnerships, and ongoing clinical trials at top US hospitals, Ligence is well-positioned for significant growth. We believe the startup's solution will enable faster and more accurate heart disease diagnoses, improving patient outcomes and increasing the efficiency of healthcare systems.”
Ligence's social mission is to increase the availability and accuracy of cardiac ultrasound for patients to enable earlier diagnosis, better risk assessment and patient screening. For doctors, this helps to reduce manual workload, and leave more time to interact with patients. The company puts its resources first in this social mission.
Ligence software is already in use by customers in Lithuania and across other European countries, including Poland, Switzerland, Germany, France, Spain, Portugal, and the United Kingdom, and is currently being tested in Morocco. Clinical trials are underway in the United States, Germany, the Netherlands, Poland, and Lithuania.
About Ligence:
Ligence is a health technology company dedicated to transforming echocardiography with AI-driven solutions that enhance clinical workflow efficiency and diagnostic accuracy. Our software automates image analysis, providing cardiologists with precise measurements, automated reporting, and an integrated, vendor-neutral cardiac viewer that supports clinical decision-making. Trusted by healthcare professionals, Ligence’s platform delivers fast, reliable results that are on par with experienced cardiologists, empowering clinicians to spend more time with patients. With seamless integration capabilities that align with PACS and hospital IT infrastructure, Ligence adheres to ASE and ESC guidelines for transparent, standardized diagnostics. Our mission is to elevate patient care by reducing clinician workload, saving time, and improving outcomes in the fight against heart disease.
About Coinvest Capital:
Coinvest Capital, established in 2018, is a unique evergreen sector-agnostic sovereign VC fund with over €30 million in committed capital, funded by public sources of Lithuania and European Union. It offers a unique in-the-world profit-sharing incentive for accredited private local and international co-investors, aimed at bolstering the Lithuanian business angel ecosystem and providing risk capital to early-stage startups.
Media contacts:
For more information, please contact Barbora Butkutė
Head of Marketing
+37062490430, barbora@ligence.io
Please also visit our website and follow us on social media.
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